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American Express Business Platinum Card Review

Editorial Note: This content is not provided by the card issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer.This article contains references to products from our partners. We receive compensation if you apply or shop through links in our content. You help support CreditDonkey by reading our website and using our links. (read more)

The Business Platinum® Card from American Express OPEN offers travel-friendly benefits – including Global Lounge Collection, Airline Fee Credit, and Platinum Concierge Service. But with so many cards boasting no annual fee, why would anyone want to pay $450 to use this card each year?

Bottom Line

We'll show you why it's well worth it to some cardholders and way too expensive for others.

Plus, we'll talk about the welcome offer. Read on to learn how you can earn up to 75,000 Membership Rewards points.

In-Depth Business Card Review

Okay, here we go. At $450 per year, the AMEX Business Platinum card doesn't come cheap, but it does pack a punch in terms of the benefits it offers if you spend a lot of your business life on a plane.

If you're familiar with the Platinum Card from American Express, this is the business version of it.

If you're thinking about getting one of these cards for your business, here's what you need to know to decide whether it's worth the higher price tag.

WHO THE CARD IS GOOD FOR

Business travelers: If you're a business owner who flies the friendly skies often, this card might work well for your business. You can have a more comfortable travel experience thanks to access to 5 airport lounge networks, plus you'll get other perks that will benefit a frequent flyer.

But remember, this is a charge card, so you'll need to pay off your entire balance every month.

10 REASONS WHY AMEX BUSINESS PLATINUM WORTH IT

In our opinion, the Business Platinum Card offers some of the most impressive benefits for business owners and frequent travelers, and below are the 10 we find most worth mentioning.

1. Earn Membership Rewards:

As a welcome offer, you can earn up to 75,000 bonus points. You earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.

How does that sign-up bonus compare to other AMEX promotions? Take a look at our current list of American Express bonuses. In short, it has one of the highest publicly available Membership Rewards sign-up bonus on CreditDonkey. In comparison:

The Business Gold Rewards is offering 50,000 Membership Rewards points after you spend $5,000 in purchases on the card within the first 3 months.

Eligible purchases do not include fees or interest charges, balance transfers, cash advances, purchases of travelers checks, purchases or reloading of prepaid cards, or purchases of other cash equivalents.

Once you accumulate enough points, you can get flights, hotel stays, and breaks in vacation packages when you redeem through the Membership Rewards program.

You can also transfer points with some airline frequent flyer programs (such as Virgin Atlantic Flying Club and Asia Miles) and hotel chain loyalty programs.

If you redeem the points using Membership Rewards® Pay with Points with American Express Travel to pay for a flight with your selected qualifying airline, you will get 35% of the Membership Rewards points back.

This benefit makes Membership Rewards points even more valuable. We'll explain. Let's say you use 50,000 points via Membership Rewards® Pay with Points to book a $500 airfare on your selected airline with American Express Travel. You'll get 35% of those points back. That's 17,500 points in this example. Which means you would have spent only 32,500 points to get a $500 airfare, an over 1.5 cent per point value. There is a limit of 500,000 bonus points per calendar year.

You can also use Membership Rewards® Pay with Points for First and Business class tickets with all airlines available through American Express Travel and get 35% of those points back.

Note: Pay with Points has a minimum redemption of 5,000 points. A flight booked as part of a travel package or booked with the American Express U.S. Representative Travel Network is not eligible for the 35% Airline Bonus.

Tip: You can earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.

2. Airport lounge access: Is your flight delayed, or you'd just like to relax in comfort while you wait for your plane to take off? Card members enjoy complimentary access to 5 airport lounge networks, including Delta Sky Clubs, The Centurion lounges, American Express International lounges, and Airspace Lounges, as well as free enrollment in Priority Pass Select. Thanks to the 5 networks, you'll get access to more than 1,000 airport lounges worldwide in over 500 cities worldwide.

If you frequently go through those airports, you can wait for your flight in style. Centurion Lounge offers food developed in partnership with renowned local chefs, signature cocktails, premium spirits, and curated wines. If you need to get some work done, you can find WiFi, semi-private workspaces, and a computer bar with printer/fax/copier. The smaller Centurion Studio offers snacks, wine, beer, and WiFi.

Plus, unlike the Delta Sky Clubs access, at the Centurion Lounge, you may enter with up to two guests at no additional charge.

4. Concierge service: A concierge is not just someone who stands behind a desk in a hotel lobby. Take advantage of the Business Platinum Concierge service, which is available 24 hours a day when you need an extra hand to find a place to eat or stay, or need advice on getting a gift or putting a floral arrangement together for a client in another state.

The concierge service is a major reason to be interested in the Platinum Card, so give some thought into whether you would want to take advantage of it. It could come in handy when you are going to entertain some out-of-town clients and you need a reservation but just don't have the time to make it yourself.

6. Points transfer: Points earned with the Business Platinum card can be transferred to a number of hotel and airline loyalty programs, including Delta SkyMiles and the Hilton HHonors program.

New to the airline miles game? Read our beginner's guide to airline miles and hotel points here. Accumulating airline miles is a fun way to score free travel and upgrades.

Boingo can come in handy depending on where you go. If you plan to travel international, make sure to look for Boingo hotspots as internet access can be costly overseas.

7. Gogo Internet: Speaking of costly internet access. We all know how expensive it is to get WiFi when flying. But now, this card offers 10 Gogo in-flight Internet passes every year. If you fly often and have to stay connected, this benefit alone can help justify the annual fee.

Tip: Taking advantage of this benefit can be a huge savings opportunity. Gogo Internet passes cost $5 to $16 and more (1 hour to all-day and depending on the flight). Boingo typically costs up to as much as $39 a month.

8. No foreign transaction fees: If your business travel regularly takes you overseas, you won't have to worry about paying an extra foreign transaction fee that usually runs up to 3%.

Did you know: AMEX upgraded their International Airline Program. You now get discounts on Premium Economy, Business, and First Class seats when you fly with one of their 15+ participating airlines. You can purchase up to 8 tickets. There is a $39 servicing fee per ticket.

9. Global Entry / TSA Pre: You can get one $100 Global Entry statement credit OR one TSA Pre™ statement credit every 4 years when the application fee is charged to your Platinum Business card. Global Entry and TSA Pre are subject to approval.

TSA Pre expedites screening at select airports, while Global Entry helps you get through customs quicker. Here's our suggestion: sign up for Global Entry as it's more expensive ($100 for a 5-year membership vs. $85 for TSA) and includes TSA Pre benefits.

10. OPEN Savings: This is a built in program for AMEX business cards that offer additional rewards with its OPEN Savings partners. You can get either a 5% discount or 2 additional Membership Rewards points for each eligible dollar spent at OPEN Savings merchants. Partners include FedEx, Hertz, hp, 1800Flowers.com, and BN.com (Barnes & Noble). Partners are subject to change. Terms and limitations apply.

In addition to these special discounts, you also get a suite of expense management tools, including: monitoring employee card use, setting alerts, matching receipts, and automatically sending transactions to QuickBooks.

There's more. To read about the additional benefits, visit American Express' website. You'll also find the online application for the card there too.

WHY YOU SHOULD LOOK ELSEWHERE

While there are many reasons to love the Platinum Business card, there are a couple of reasons to consider going a different route.

You need flexibility when it comes to making payments: The Business Platinum card is a charge card (not a credit card), which means you'll need to pay the balance in full each month. If you need to stretch out your payments over time and you don't mind paying interest, you might be better off with a revolving balance card like the American Express Blue Business credit card.

You value rewards over perks: The Business Platinum card comes with a laundry list of benefits, but if your focus is on earning points and the bottom line, this probably isn't the card for you.

While the sign-on bonus is generous, you might not get as much bang for your buck from the flat rewards structure on small purchases as you would with a card with multiple reward categories.

The keyword is "small purchase". The Business Platinum card only offers one reward point for every eligible dollar spent on purchases under $5,000, which is a modest return on spend when compared with other cards. If you're looking for reward points, you may want to consider a card like the Business Gold Rewards, which we'll discuss more about below.

But you earn 1.5 points per dollar on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year. Think about what kind of purchases your business tends to make.

American Express is not accepted everywhere: Instead, you may want to consider having a Visa or MasterCard as a standby credit card in case the merchant you're at doesn't take Amex.

HOW IT COMPARES

Opening a new Business Platinum card account will cost you some money so you don't want to jump the gun without seeing what else is available. We've rounded up three additional business rewards cards that you might consider as well.

American Express Business Platinum vs Gold:Business Gold Rewards Card from American Express OPEN: The Business Gold Rewards card is an excellent choice if your goal is earning points. And you'll pay only a $175 annual fee vs. the Business Platinum's $450.

The card pays 3 rewards points per $1 on purchases in 1 of 5 categories you choose. For the other four, you'll earn 2 points per $1. On other purchases, you earn 1 point per $1. Keep in mind, the 3x and 2x apply to the first $100,000 in purchases in each of the 5 categories per year, 1x point per dollar thereafter.

Bonus Airline Rewards: 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.

Point Rewards: Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.

Point Rewards: Get 3x points - Choose 1 out of 5 categories. 2X points on the 4 remaining categories and 1X points on other purchases. 3X and 2X apply to the first $100,000 in purchases in each of the 5 categories per year, 1X point per dollar thereafter

Airline Status

Airline Status: Get up to $200 in statement credits per calendar year on a selected airline for incidentals such as baggage fees, lounge day passes, and more.
Access to 5 airport lounge networks including The Centurion® lounge network, The International American Express lounges, Delta Sky Club® lounges, Priority Pass(TM) Select, and Airspace Lounge. Enrollment required for Priority Pass Select.

Fine Hotels & Resorts - book your stay through American Express FHR at one of 600 luxury hotels and you may get a room upgrade upon arrival, daily continental breakfast for 2, guaranteed 4pm late checkout and a special amenity unique to each property.

If the card is for yourself, you may want to consider:American Express Personal Platinum Card: The personal version of the Platinum card has a $550 annual fee, but it offers up to $200 Uber Savings annually and has the edge when it comes to adding additional cards. It costs $175 to add up to 3 additional Platinum cardholders to your account, which includes lounge access and reimbursement for the Global Entry program. With the Business Platinum card, you'll pay $300 for each additional card.

The Business version might be worth it to some travelers though, as you'll get 10 Gogo in-flight Internet passes per year and the opportunity to use Membership Rewards Pay with Points with American Express Travel for a flight with your selected airline (and get 35% of the points back, up to 500,000 bonus points per calendar year).

Bonus Airline Rewards: 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.

Point Rewards: Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.

Point Rewards: Earn 1 point for virtually every dollar spent.

Airline Status

Airline Status: Get up to $200 in statement credits per calendar year on a selected airline for incidentals such as baggage fees, lounge day passes, and more.
Access to 5 airport lounge networks including The Centurion® lounge network, The International American Express lounges, Delta Sky Club® lounges, Priority Pass(TM) Select, and Airspace Lounge. Enrollment required for Priority Pass Select.

Airline Status: $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline. Terms Apply.
Access to 5 airport lounge networks including The Centurion® lounge network, The International American Express lounges, Delta Sky Club® lounges, Priority Pass(TM) Select, and Airspace Lounge. Enrollment required for Priority Pass Select.

Fine Hotels & Resorts - book your stay through American Express FHR at one of 600 luxury hotels and you may get a room upgrade upon arrival, daily continental breakfast for 2, guaranteed 4pm late checkout and a special amenity unique to each property.

Fine Hotels & Resorts - book your stay through American Express FHR at one of 600 luxury hotels and you may get a room upgrade upon arrival, daily continental breakfast for 2, guaranteed 4pm late checkout and a special amenity unique to each property. Terms Apply.

Discount

Discount: The OPEN Savings benefit is built into Business Cards from American Express OPEN and provides either a 5% discount or 2 additional Membership Rewards® points for each eligible dollar spent at OPEN Savings merchants. Terms and limitations apply.

If you'd rather earn discounts than points, take a look at: Plum Card from American Express OPEN: The Plum card doesn't offer points for purchases, but you'll get a 1.5% discount when you pay your monthly payment early.

You'll get a $0 introductory annual fee for the first year, but after that, you'll play $250 annually. Still, that beats the $450 for the Business Platinum card.

5 Things to Do Once You Get Your Business Platinum Card

The $450 annual fee makes it so you won't want the Amex Business Platinum just sitting around doing nothing. My suggestion: Put it into action by doing the following things once you've activated it:

This will be the airline you'll get the up to $200 airline fee credit benefit per calendar year for.

And it'll be the airline you can receive 35% of your points back when you use Membership Rewards Pay with Points with American Express Travel for a flight (with your selected qualifying airline, for up to 500,000 bonus points per calendar year).

Choose wisely - once you pick an airline, you can change your choice only once a year, in January.

Enroll in Priority Pass Select: You never know the next time you come across a Priority Pass Select airport lounge. Plan ahead and enroll in Priority Pass Select -- this gives you access to over 950 airport lounges worldwide. Get this small step out of the way before your next flight.

Sign up for SPG Gold: Platinum cardholders get free gold status as a Starwood Preferred Guest, so enroll and take advantage of it. That way, the next time you are at a Starwood hotel chain, such as a Westin, Sheraton, W Hotel, St. Regis, Four Points, you'll have access to perks like late room checkout (when available), a welcome gift at check-in, and other benefits.

Plus, if you frequently rent cars, remember with this card you get complimentary membership in the elite programs of Avis, Hertz and National Car Rental.

Tip: if you are booking a luxury hotel stay, consider booking through American Express Fine Hotels & Resorts. You may be able to score a room upgrade upon arrival, daily continental breakfast for two, and guaranteed 4pm late checkout through the FHR program.

Consider signing up for Global Entry: The card comes with a $100 Global Entry (or TSA Pre) statement credit every 4 years when you charge the application fee to your card.

Activate your Gogo Preferred Program benefit now: To use one of the 10 complimentary single flight segment passes for Gogo inflight Internet you get each calendar year, just log in to your Gogo account and select the American Express Internet Pass. Keep in mind, the American Express Internet Passes do not roll over each year, so use them, or lose them.

Bonus tip: To really take your new card out for a ride, plan an adventure. Call the Platinum concierge service to help you book a restaurant date, and take your significant other out on the town.

Common Questions

Q: What does no pre-set spending limit mean?A: The AMEX Business Platinum has no pre-set spending limit, but that does not mean you get unlimited spending power. Your purchasing power adjusts based on your card usage, payment history, credit history and other factors analyzed by American Express.

FINAL WORD: Business Platinum American Express

Here's my thoughts: If frequent travel is a part of your business routine, the American Express Platinum Business card can help make traveling that much smoother. The real value of this card is not in its rewards, but in the Platinum travel benefits such as lounge access, concierge, Wi-Fi access, and the $200 annual airline fee credit for incidentals. The $450 annual fee is far from spare change, but it is worth it if you travel often and take advantage of the perks.

Ultimately, you need to consider your business spending habits and travel needs to decide if the card's benefits justify the higher fee.

Rebecca Lake is a journalist at CreditDonkey, a credit card comparison and financial education website. Write to Rebecca Lake at rebecca@creditdonkey.com. Our data-driven analysis has been recognized by major news outlets across the country and has helped consumers make savvy financial and lifestyle decisions. (read more)

Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: This content was first published on July 10, 2015. This content may have been updated on March 30, 2017. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check American Express website for updated information.

Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.

Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.

Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.

35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.

You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.

You can enjoy access to The American Express Global Lounge Collection℠ offering access to the most lounges across the globe, when compared with other U.S. credit card offerings. As of 6/2017

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